Ruger to retire from company’s top posts

The chairman and chief executive officer of Sturm, Ruger & Company has announced plans to retire at the end of the month.

The 66-year-old William B. Ruger Jr., son of the co-founder of the firm, said he would resign as the small arms manufacturer’s CEO on Feb. 28. He stepped down as chairman and a member board on Monday. The company said it anticipates that his successor will be selected in the next few months.

Sturm, Ruger, headquartered in Southport, Conn., is one of New Hampshire’s largest manufacturing employers. Its facilities in Newport, N.H., employ some 930 people.

Stephen L. Sanetti, vice chairman of the board, president and chief operating officer, will assume Ruger’s duties on an interim basis, the company said. Sanetti is 56.

Ruger, who has headed the company since the retirement of his father, William B. Ruger, in 2000, started working for the firm in 1964. The elder Ruger died in October 2004.

Among his previous job titles have been director of manufacturing operations of the firm’s Southport, Conn., facility, vice president and president.

“He is a brilliant and sagacious individual whose singular presence we will miss, and we sincerely wish him a well-earned and personally satisfying retirement,” Sanetti said.

Ruger director Joseph Strasser resigned earlier this month, citing health reasons. – JEFF FEINGOLD